The list of banks that notified the National Bank of Romania (BNR) their activities in Romania includes 181 financial institutions, but the crisis reduced dramatically the number of potential clients.
Retail and corporate loans taken out from internal and foreign lenders amounted to RON 300 billion (some €71 bln) at the end of 2008, representing 58 percent of gross domestic product. Local banks are the main financing sources of the real economy and the population, with 66 percent of total loans, followed by foreign lenders, with over 21 percent, and the domestic Non-Banking Financial Institutions, (IFN) with 12 percent.
The number of individuals with bank loans amounted to 4.2 million at the end of March, 40 percent of the active population. A debtor has on average two loans, and the average amount borrowed is RON 13,000 (some €3,082). Some 47 percent of retail bank loans are guaranteed with real estate assets, at the end of March, but the rate of arrears increased significantly, to 0.32 percent.
